MSC Industrial Direct (MSM) Expected to Announce Quarterly Sales of $830.51 Million

Wall Street brokerages forecast that MSC Industrial Direct (NYSE:MSM) will announce sales of $830.51 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for MSC Industrial Direct’s earnings. The highest sales estimate is $835.00 million and the lowest is $826.57 million. MSC Industrial Direct reported sales of $743.92 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 11th.

On average, analysts expect that MSC Industrial Direct will report full-year sales of $3.20 billion for the current financial year, with estimates ranging from $3.15 billion to $3.25 billion. For the next year, analysts anticipate that the firm will post sales of $3.39 billion per share, with estimates ranging from $3.31 billion to $3.45 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow MSC Industrial Direct.

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MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. The firm had revenue of $769.00 million during the quarter, compared to analyst estimates of $773.42 million. MSC Industrial Direct had a return on equity of 20.53% and a net margin of 9.91%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share.

A number of brokerages recently commented on MSM. BMO Capital Markets lifted their price objective on MSC Industrial Direct from $103.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 11th. Robert W. Baird reiterated a “hold” rating and issued a $107.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, April 10th. Stephens reiterated a “buy” rating and issued a $116.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, April 10th. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Saturday, April 7th. Finally, Deutsche Bank set a $102.00 target price on MSC Industrial Direct and gave the stock a “hold” rating in a research report on Friday, April 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $100.62.

Shares of MSM stock opened at $88.90 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 1.04. The stock has a market capitalization of $5,116.04, a P/E ratio of 21.95, a PEG ratio of 1.29 and a beta of 0.60. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $99.94.

MSC Industrial Direct declared that its board has authorized a stock buyback plan on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 57.28%.

In other news, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $99.00, for a total transaction of $247,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles Bonomo sold 1,800 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $92.19, for a total value of $165,942.00. The disclosure for this sale can be found here. Insiders have sold a total of 677,111 shares of company stock worth $63,940,651 in the last quarter. 31.28% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in MSC Industrial Direct by 0.6% in the 4th quarter. BlackRock Inc. now owns 3,689,473 shares of the industrial products company’s stock valued at $356,624,000 after acquiring an additional 22,023 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in MSC Industrial Direct by 13.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,798,812 shares of the industrial products company’s stock valued at $173,873,000 after acquiring an additional 213,957 shares in the last quarter. Schroder Investment Management Group lifted its stake in MSC Industrial Direct by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 1,048,322 shares of the industrial products company’s stock valued at $101,331,000 after acquiring an additional 83,836 shares in the last quarter. First Trust Advisors LP lifted its stake in MSC Industrial Direct by 20.3% in the 4th quarter. First Trust Advisors LP now owns 484,832 shares of the industrial products company’s stock valued at $46,864,000 after acquiring an additional 81,737 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in MSC Industrial Direct by 24.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 421,626 shares of the industrial products company’s stock valued at $40,754,000 after acquiring an additional 82,479 shares in the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

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Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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